MMB set to expand ahead of flotation

IFA Moores Marr Bradley is aiming to expand by 20 per cent a year in a bid to gain a stockmarket listing in the next three to five years.

The company has changed its name to MMB and launched a new logo which aims to highlight its mission statement of being "One step ahead".

The move comes after the IFA spent £50,000 on a three-month audit designed to help it revamp its image. MMB was on the verge of a deal with rival listed IFA Berry Birch & Noble last April but the merger collapsed.

Chief executive Gareth Marr says the company aims to have around 40 registered individuals by the time it lists, up from the current 16.

IFAs have become increasingly interested in branding following the success of Virgin Direct.

It found that MMB was seen as proactive, forward thinking and ethical – more like an accountant than an IFA.

On the downside, the company was seen as poor at communicating with staff, unfoc used and bad at getting its message across.

Marr says real changes have been made following the audit. These include a management shake-up, with Marr moving to chief executive to deal with external relations. Sean Gilchrist has been appointed as managing director.

Marr says: "What has happened has been very positive. Everyone in the company took part and it has bound us together."

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